Charts

Aroon Oscillator (ARO)

Aroon Oscillator (ARO)

The Aroon Oscillator is a derivative of the Aroon indicator that provides a different way to view the results. It is constructed by subtracting Aroon Down from Aroon Up. The Aroon Oscillator oscillates between -100 and +100 with zero as the center line.

The Aroon Oscillator provides the following signals:

  • Above zero signals an uptrend.
  • Below zero indicates a downtrend.

Configuration Options

  • Field: Price or combination of prices to use as the base for average calculations. Possible values include:
    • Open
    • High
    • Low
    • Close
    • Adjusted Close
    • HL/2 \( \left ( \frac{High + Low}{2} \right ) \)
    • HLC/3 \( \left ( \frac{High + Low + Close}{3} \right ) \)
    • HLCC/4 \( \left ( \frac{High + Low + Close + Close}{4} \right ) \)
    • OHLC/4 \( \left ( \frac{Open + High + Low + Close}{4} \right ) \)
  • Color Selectors: Colors to use for graph elements.
  • Display Axis Label: Whether to display the most recent value on the Y axis.

Formula

\[Aroon\;Osc = Aroon\;Up - Aroon\;Down\]

The formula uses the following equations, where n is the number of days:

    \[ Aroon\;Up = \frac{100 * (n - (Days\;Since\;n-day\;High))}{n} \]

    \[ Aroon\;Down = \frac{100 * (n - (Days\;Since\;n-day\;Low))}{n} \]